Netflix is in great shape in the third quarter fo 2018, as the service performed better than expected and now reached more than 137 million subscribers worldwide. After a disappointing second quarter, Netflix did more than just turn the tide by exceeding all expectations in Q3 2018. The famous giant streaming service gained 7 million subscribers in the third quarter, bringing its total to 137 million.
Out of the more than 7 million subscribers, 5.87 million were worldwide and 1.09 million across the United States. Netflix is doing better than expected and admits to having “underestimated the number of memberships.” “The variance from our expectations is due to a larger than expected increase in new subscribers worldwide, with strong growth in all our markets, including Asia,” Netflix representatives explained.
Reed Hastings, Netflix CEO, told investors last year that $8 billion would be reinvested in original content creation in 2018, for a total of 700 new programs. During his time in Paris, he revisited this strategy to confirm that the department was not focusing exclusively on American productions.
Netflix reached 137 million subscribers in the third quarter of 2018
Netflix’s expensive but profitable strategy should enable it to continue to win even more subscribers by the end of the year. The platform is expecting a gain of 9.4 million subscribers in the next months, out of which 7.6 million would be outside the United States.
This growth has enabled it to earn more money and increase its sales by 34% compared to the same period last year. That amounted to $4 billion with a net income of $402.8 million, compared with $129.6 million in 2017.
With such results, the leading streaming service can wait calmly for the arrival of new competitors in this market. Next year, we’ll get the streaming service of Disney, a giant company that plans to use its popular licenses to outperform Netflix. This will include the arrival of films and series such as The Mandalorian, a Star Wars live series directed by Jon Favreau.
